General Mills, Inc. $GIS Shares Purchased by GAMMA Investing LLC

Key Points

• GAMMA Investing LLC increased its holdings in General Mills, Inc. (NYSE: GIS) by 59.0% in Q2, holding 31,150 shares valued at $1,614,000 according to its latest SEC filing.
• Recent analyst ratings show a mixed outlook, with four analysts giving a Buy rating, twelve issuing a Hold rating, and two assigning a Sell rating; the average target price is $55.82.
• General Mills recently reported a quarterly earnings per share (EPS) of $0.86, exceeding estimates, but also noted a 6.8% year-over-year revenue decline.

GAMMA Investing LLC lifted its holdings in General Mills, Inc. (NYSE:GIS - Free Report) by 59.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,150 shares of the company's stock after acquiring an additional 11,553 shares during the period. GAMMA Investing LLC's holdings in General Mills were worth $1,614,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. U.S. Capital Wealth Advisors LLC boosted its position in General Mills by 4.8% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 5,145 shares of the company's stock worth $267,000 after purchasing an additional 234 shares during the period. Park Avenue Securities LLC boosted its position in shares of General Mills by 7.8% in the second quarter. Park Avenue Securities LLC now owns 35,710 shares of the company's stock worth $1,850,000 after buying an additional 2,597 shares during the period. Sowell Financial Services LLC grew its stake in shares of General Mills by 12.1% in the second quarter. Sowell Financial Services LLC now owns 70,906 shares of the company's stock valued at $3,674,000 after buying an additional 7,666 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of General Mills by 22.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 20,274 shares of the company's stock valued at $1,050,000 after buying an additional 3,771 shares during the period. Finally, Bridge Creek Capital Management LLC lifted its position in General Mills by 6.9% during the 2nd quarter. Bridge Creek Capital Management LLC now owns 77,801 shares of the company's stock worth $4,031,000 after acquiring an additional 5,050 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company's stock.

Wall Street Analysts Forecast Growth

GIS has been the subject of several recent research reports. Mizuho lowered their price objective on shares of General Mills from $57.00 to $52.00 and set a "neutral" rating for the company in a research report on Friday. Zacks Research raised shares of General Mills from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 2nd. HSBC cut their price objective on shares of General Mills from $59.00 to $57.00 and set a "hold" rating on the stock in a report on Thursday, September 18th. Wells Fargo & Company set a $53.00 target price on General Mills and gave the company an "equal weight" rating in a research note on Thursday, June 26th. Finally, Bank of America cut their price target on General Mills from $63.00 to $61.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Four investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $55.82.

General Mills Stock Performance

GIS stock opened at $50.11 on Tuesday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.40 and a current ratio of 0.66. General Mills, Inc. has a 1 year low of $48.29 and a 1 year high of $74.98. The stock's fifty day moving average is $49.76 and its two-hundred day moving average is $53.62. The stock has a market capitalization of $26.73 billion, a price-to-earnings ratio of 9.47, a PEG ratio of 1.27 and a beta of -0.02.

General Mills (NYSE:GIS - Get Free Report) last posted its earnings results on Wednesday, September 17th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.04. The firm had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.52 billion. General Mills had a net margin of 15.24% and a return on equity of 23.46%. General Mills's revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.07 EPS. On average, research analysts predict that General Mills, Inc. will post 4.36 EPS for the current year.

General Mills Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend was Thursday, July 10th. This is an increase from General Mills's previous quarterly dividend of $0.60. General Mills's dividend payout ratio (DPR) is presently 46.12%.

General Mills Company Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.

Want to see what other hedge funds are holding GIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Mills, Inc. (NYSE:GIS - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.